Ironveld Share Discussion Threads

[purchaseatthetop] 03/4/2023 15:46

30/3/23 Interims stated first production now and full production middle of 2023. How on earth is that going to happen? Anybody got an answer?

[eriktherock] 03/4/2023 15:41

This Business is evolving. There's little point in holding on to a past position. If you feel the need to be kept informed on every decision then maybe you should get a seat on the Board. :-)

[purchaseatthetop] 03/4/2023 15:37

12/9/22 RNS said that Enernet were going to design and finance a hybrid power island. Nothing has been heard as far as I know since.
Todays RNS suggests there may be hydrogen power whatever etc.
Right now the only power is a hired 1MW generator that is pre production. How on earth is any real production going to happen without power?

[eriktherock] 03/4/2023 15:20

"interesting rns...purest,greenest metals is something to shout about"
Agree and agree.

(accumulation)

[broncowarrior] 03/4/2023 08:06

Getting this into the ESG list if possible will open it up to a much wider group of investors. So a good move.

[purchaseatthetop] 03/4/2023 07:18

I am sorry but that is exactly the kind of rubbish RNS that I hate. What has happened to the 12/9/22 power generation plan? Simply using a hired small generator does not work. Now there is a MOU towards possibly doing hydrogen maybe.

[iceagefarmer] 03/4/2023 07:13

interesting rns...purest,greenest metals is something to shout about

[purchaseatthetop] 02/4/2023 16:17

Ladeside. I appreciate the comment. I look at any share and try to find inconsistencies and failures being hidden by the BoD. There were a whole raft of them here verging on outright dishonesty by the BoD.

The recent RNS appears to put the final deal killer to bed. There remain major challenges before success but now it actually has a chance. The one question I have remaining is whether the terms of the smelter acquisition have changed because the RNS refers to its terms. It does not say that these are the same as previously RNSd!

Onwards and upwards. Hopefully you all make a lot of money.

[tomtum1] 02/4/2023 15:54

Looks like it's all going in the right direction

[ladeside] 31/3/2023 17:43

I'm pretty sure that your 0.37 purchase will look a very shrewd piece of business over the course of the next few weeks and months Erik.

I'd also add that most of us here would bite your hand off for an average of 0.37 as we've been here for quite a few years. It should also be noted that the recent and current 0.30 stuff is an all time low and one of the main reasons we're here is due to poor sentiment resulting from previous delays, broken promises and a very public battle with the then largest shareholder (Align).

What's never been in doubt is the actual quality of the asset and it was really all about would we ever actually make it to production. That question now seems to be getting answered in a positive way and despite the dilution we're still hugely undervalued and with the return of some positive sentiment, then I can see us climbing back to a decent share price much sooner rather than later.

It also shouldn't be underestimated the fact that an institution has recently bought in heavily (over 9%) and that one of our Directors (John Wardle through his Tracarta vehicle) has been buying in large amounts and now owns over 11% of the company. GC and NH also have a decent holding (via their Westleigh vehicle) and I'd honestly say things are now beginning to look extremely positive.

Good post as always Al and a very decent and honest post by Patt also.

As we always say, there's still a long way to go until we reach anything like our potential or True valuation but at least things are now moving in the correct direction.

Good luck all and here's to a nice steady rise.....

[eriktherock] 31/3/2023 15:30

No-one wants to have 'bought at the top'.
I 'bought at the top' @ 0.3713 on Wednesday.

[eriktherock] 31/3/2023 14:10

"Smelter in hand" :-)

[purchaseatthetop] 31/3/2023 13:08

Looks much better now. Smelter in hand. Just need a few million and there is actually a business. Good luck.

[eriktherock] 31/3/2023 12:46

A delayed reaction to the good news but at last, some upward momentum of the share price.

[iceagefarmer] 31/3/2023 12:45

topped up this morning..looking very strong,watch for delayed buys

[eriktherock] 31/3/2023 07:47

Some considered posts yesterday.
Thanks the four of you.

[al101uk] 30/3/2023 23:16

Can't seem to grab any time to post here recently, even with all the news. But on first glance:

The acquisition yesterday was great news in two ways, it's a risk removed (albeit a small one), but probably more importantly it means that Ironveld extended the timescale on which debt repayments need to be made. That improves their financials considerably and I still think they may have dragged their feet on purpose.

I don't think the results add a great deal, it's nice to see them downplaying Grosvenor now and the change to the "ongoing concern" wording is very welcome.

"...the Group will have adequate resources to continue in operational existence for the foreseeable future being 12 months from the date of the approval of these interim financial statements"

First sales due in weeks, full production by the third quarter sounds reasonable if things go to plan and with some work already having been completed I'm guessing their estimates are probably more accurate than is usual for a GC company.

I can't really see any explicit negatives. It's nice to see them moving forward and actually doing what they say they are going to do.

But this is me, so I have to be a little cautious.

I'd like to see revised numbers for the operation prior to the installation of the HPI to HPIP conversion kit. At full production do they achieve breakeven or are they still relying on HPI to HPIP? I'd like to see them mention profit occasionally rather than just focusing on revenue.

Turner Pope allocate a Discounted Cashflow valuation in their January note, I'd like to see the assumptions that they base that on, obviously they see a profitable company based on phase 1 completion, that's reassuring, but I'd like to see something similar to the old model we had. Are they modeling HPI to HPIP?

Risk-wise, there's just the ever present operational risk and the capex risk but overall a much more positive story.

[eriktherock] 30/3/2023 22:58

ice, the share price spread to sb is not encouraging. That said I am.

[eriktherock] 30/3/2023 21:32

Yeah, I suppose the MAR closed period expired today. I am out of touch with AIM regs.

[iceagefarmer] 30/3/2023 21:27

more director buys soon i reckon..just look at the team they have very impressive and professional


Giles Clarke has a proven track record of building a business and then selling it on for a mid tier valuation..the last company was amerisur which sold for £242m..ironveld i believe may be his biggest success story

[eriktherock] 30/3/2023 21:02

I am surprised at the lack of interest today especially given the interest on Monday.
Maybe it's a timing thing. Hmm.

[ladeside] 30/3/2023 13:53

Excellent update this morning and I'd say that all the imponderables and potential risks have now been removed.

The take away from it is,

We have no Debt.

We have sufficient cash to take us to full production (phase 1) and this should be within weeks.

Grosvenor have been told in no uncertain terms that they are no longer required unless they come through with the cash and a deal which we can't refuse as we have now moved on.

The HPI powder equipment is very much on the agenda and the company are actively exploring the best way to fund this (Around £1.5 to £1.8 Million required).

The JV with Pace is on track and hasn't even been priced in.

The local communities (apart from our pal) are all on board and we're taking our social responsibilities seriously.

Ultimately we've had our ups and downs (mostly downs) but we now seem to be firmly on track to realise a re-rate and then a steady rise as things all fall into place.

What figures are we talking ? who could say for sure but I can see a MCAP of £25 to £30 Million within weeks which should translate to an share price of 0.70 to 0.80 range and from there it will depend on the HPI powder and how it will be funded etc. We also may have other positive things happening in the background which aren't as yet in the public domain.

I stick by my previous thoughts where I can see us getting all our infrastructure in place, sales commencing and then a potential 75% to 80% farm out or complete sale to a major for around the 2p range.

Irrespective, the obstacles and potential issues have now been removed and we can all just sit back and enjoy the ride, knowing of course that NOTHING ever moves in a straight line but that there SHOULD be a pot of Gold (or two)waiting for us at the end of the Ironveld rainbow.......

[iceagefarmer] 30/3/2023 11:42

you can now spread bet iron..thought i'd let you all know

[n95] 30/3/2023 09:04

TPI has prudently modelled the opportunity presented based solely on the smelter's first phase of proposed commercial expansion and utilisation only of existing wholly-owned plant, from which it derives a £30.7m DCF valuation for the Group, which remains over two-and-a-half times the Group's current market capitalisation.